The present invention provides a photovoltaic virtual synchronous machine grid-connected stability hardware-in-loop test system and method. The system comprises: a power electronic real-time simulation platform, wherein a real-time digital simulation model comprising a power grid, a photovoltaic virtual synchronous machine cluster device and a photovoltaic virtual synchronous machine device is built on the power electronic real-time simulation platform, and the real-time digital simulation model is subjected to real-time transformation and then is downloaded to the simulator of the power electronic real-time simulation platform; and a photovoltaic virtual synchronous machine controller to be tested, wherein the photovoltaic virtual synchronous machine controller to be tested is connected with the real-time digital simulation model through the input and output interfaces of the simulator. The photovoltaic virtual synchronous machine grid-connected stability hardware-in-loop test system and method can flexibly and simply realize the grid-connected stability hardware-in-loop test of a photovoltaic virtual synchronous machine, and a grid-connected stability analysis result is closer to the engineering practice.